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Unit 3 - Coggle Diagram
Unit 3
International Trade
Advantages
Disadvantages
Importance
Australia
Imports
Import Sources
Exports
Export Sources
Adam Smith's Absolute Advantage
David Ricardo's Comparative Advantage
Michael Porter's Competitive Advantage
Tariffs
Globalisation
Multinationals and Supply Chain Integration
Impacted By...
Infrastructure and Transport
Location of Natural Factor Endowments
Advances in Technology
Government Incentives
Factors Contributing to Globalisation
Technological Changes
MNCs
Regional Trading Blocs
Market-Friendly Policies
Non-Government Institutions
International Monetary Fond (IMF)
World Trade Organisation (WTO)
World Bank
5 Sector Circular Flow of Income Model
The Open Economy
Exchange Rates
Types
Fixed Exchange Rates
Depreciation due to Supply/Demand changes
Floating Exchange Rates
Appreciation due to Supply/Demand Changes
Managed Exchange Rates